DJ Envy Faces Legal Pressure In $1.5M Real Estate Ponzi Scheme Investigation
DJ Envy faces a court-ordered subpoena following his involvement with alleged Ponzi scheme operator Cesar Pina's real estate ventures. The radio host must provide financial documents related to his business dealings with Pina by January 8.
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Key Details:
- Cesar Pina was arrested in October 2023 for wire fraud
- DJ Envy promoted Pina's company on 'The Breakfast Club'
- Failure to comply with the subpoena could result in sanctions
- DJ Envy claims to be a victim, saying he lost $500,000 in a failed apartment complex project
Pina disputes DJ Envy's victim claims, stating they were business partners in real estate seminars and transactions. The case involves multiple investors, including two who claim they lost $1.5 million in the unrealized apartment complex project.
The court filing warns that failure to provide complete responses will result in a default notice, potentially leading to contempt charges against Pina, his wife Jennifer Iturralde Pina, and DJ Envy (Raashaun Casey).
This case highlights the broader investigation into Pina's alleged Ponzi scheme disguised as a house-flipping business, which reportedly defrauded investors of millions of dollars. Pina filed for bankruptcy in August, preceding his October arrest.